Thursday, November 6, 2008
Weekly claims for unemployment hit a high of 499K on Sept. 26th and have been essentially flat to slightly down for the past six weeks, with today's number coming in at 481K. This is not a picture of an economy spiraling into a depression. In fact, it looks like energy and commodity prices have stopped falling, as well as the Baltic Dry shipping index. We may have seen the worst.
Posted by Scott Grannis at 7:55 AM